Spacetech startup Astroscale raises $153m in Tokyo IPO

Astroscale team / Photo Credit: Astroscale

Astroscale, a Japan-based company specializing in orbital debris removal and satellite servicing, went public in the Tokyo Stock Exchange on June 5. The offering raised approximately US$153 million at a valuation of US$632 million.

The company’s post-IPO share price rose by 51% yesterday. By market close, Astroscale’s market cap was close to US$1 billion.

Space debris, or space junk, includes defunct satellites, spent rocket stages, fragments from collisions, and even tiny flecks of paint. Companies like Astroscale, which was founded in 2013, operate spacecrafts that clean up the debris, among other things.

The company claims to be the first space debris removal firm to go public, and is the third Japanese spacetech company to go public, following Ispace Inc and iQPS. With the IPO, Astroscale said it plans to invest most of the proceeds into project development and research.

Astroscale last raised funding in February 2023, closing its series G round at US$76 million. It has also received grants from the Japanese government, among others, and was also a participant at Tech in Asia’s Startup Arena competition in 2014.

Nobu Okada, Astroscale founder and CEO, said during the company’s series G round that the company plans “to make on-orbit servicing routine by 2030.”